USDC vs USDT on Algorand

Stablecoins are a type of digital asset designed to maintain a stable value, typically linked to a fiat currency or a commodity, and have found product market fit when it comes to transacting and accounting. Stablecoins are now used in real-world instances; from cross-border payments to functioning as banking infrastructure for those without access, stablecoins are growing in popularity around the world. USDC is a fully reserved US dollar backed stablecoin, launched by industry pioneers Coinbase and Circle. Tether is a market leading stablecoin issuer that launched the first stablecoin, Tether USD or USDT (also known as Tether). It was launched in 2014 and is the largest stablecoin by market capitalization.